US economy has 'no bounce'

Chinese hedge fund manager Zhao Danyang (left) and his son stand with billionaire investor Warren Buffett after placing the winning bid in a charity auction for lunch with Buffett in New York on Wednesday. Buffett, the Omaha, Nebraska-based chief executive officer of Berkshire Hathaway, handed his wallet to the younger Zhao and then whispered him a stock tip as they passed by photographers after completing television interviews at New York's famous steakhouse, Smith&Wollensky. Reuters